EU-India Trade Deal Will Boost New Global Supply Chains: EU Trade Commissioner Maros Sefcovic

India and the European Union are edging closer to sealing a long-awaited free trade agreement, with negotiators narrowing differences on some of the most sensitive issues, particularly market access for automobiles.



Speaking to CNBC-TV18, EU Trade Commissioner Maros Sefcovic signalled that the final phase of talks is focused on balancing India’s concerns about protecting a fast-growing domestic car industry with Europe’s push for greater access for its manufacturers.

He described the proposed agreement as a "mega deal" and potentially the EU’s largest trade pact by market size, spanning close to two billion consumers. Both sides are working towards announcing the conclusion of negotiations during the upcoming India–EU summit in New Delhi on January 27, even as technical details continue to be ironed out.

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